Monthly EMI

20 May 2023

monthly emi is capital expenditure or expense

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7 Replies

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (177741 Points)
Replied 20 May 2023

For what purpose the loan was taken?

1 Like

gaddala ramesh (163 Points)
Replied 20 May 2023

One is bike loan, one is car loan, one is property loan

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (177741 Points)
Replied 20 May 2023

For business entity: Principal amount can be considered as capital repayment of loan amount, and interest as revenue expenditure.

For others the vehicle loans can be revenue exp., while property loan as per business entity.

gaddala ramesh (163 Points)
Replied 21 May 2023

Cell phone purchased EMI going on every month it is loans (liability) or expenditure

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (177741 Points)
Replied 22 May 2023

What purpose the mobile is used?

gaddala ramesh (163 Points)
Replied 22 May 2023

Mobile using for personal and asking doubt for individual filing only

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (177741 Points)
Replied 22 May 2023

Mostly its expenditure, except loan account created earlier.

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